Phoenix, Arizona–(Newsfile Corp. – October 10, 2024) – Excelsior Mining Corp. (TSX: MIN) (OTCQB: EXMGF) (FSE: 3XS) (“Excelsior” or the “Company”) is pleased to announce that it has entered into a letter of intent (LOI) for a Workforce Development Agreement with Cochise College for a local workforce development partnership for its under-construction Johnson Camp Mine (JCM) and future development Gunnison Copper project in Cochise County, Arizona.

“We believe this collaboration holds great promise and potential for both Excelsior and Cochise College to develop and foster highly skilled mining jobs in the area,” states Craig Hallworth, SVP and Chief Financial Officer of Excelsior Mining. He continues, “Excelsior is rapidly constructing the Johnson Camp Mine which will be a crucial part of the clean energy supply chain and provide dozens of permanent mine jobs and temporary construction jobs to the area.”

“Cochise College is excited to explore workforce training opportunities with Excelsior Mining that will create jobs and strengthen the economic vitality of our County,” comments Dr. James Perey, Executive Vice President for Academics at Cochise College.

Based on the LOI, Excelsior welcomes:

• Engaging Cochise College to design, set up and administer Excelsior’s apprenticeship program.
• Cochise College developing specialized course content, such as Mine Safety and Health Administration (MHSA) training or process plant instrumentation technician training, including the possibility of Excelsior providing for qualified course instructors.
• Excelsior participating in career days and in job boards to advertise available positions.

Excelsior has been hiring a local workforce from the area for over a decade and has made community engagement a key priority. Excelsior participates in community support through its donations of money, people and materials to assist local organizations. Excelsior is a member of the Southeast Arizona Economic Development Group (SAEDG) which promotes economic development in the region.

About Excelsior Mining

Excelsior “The Copper Solution Company” is a mineral exploration and production company that owns and operates the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. Excelsior also owns the past producing Johnson Camp Mine, which with Nuton LLC, a Rio Tinto Venture is in Stage 2 of a process to restart the mine using Nuton technologies, with first copper expected to be produced in 2025. Excelsior additionally owns a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44^th Street, Phoenix, AZ, 85018.

Shawn Westcott
T: 604.365.6681
E: info@excelsiormining.com
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to the terms and benefits of the letter of intent with Cochise College, the rapid construction the Johnson Camp Mine, that the Johnson Camp Mine will be a crucial part of the clean energy supply chain, the number of permanent and temporary jobs provided, future production and production capacity from the Company’s mineral projects.

In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the availability of financing to implement the Company’s operational plans, the execution of a definitive agreement for the letter of intent with Cochise College, the estimation of mineral resources and mineral reserves, the realization of resource and reserve estimates, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project or JCM, the risk that a definitive agreement with Cochise College is not executed, risks relating to variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226227

Phoenix, Arizona–(Newsfile Corp. – August 1, 2024) – Excelsior Mining Corp. (TSX: MIN) (OTCQB: EXMGF) (FSE: 3XS) (“Excelsior” or the “Company”) is pleased to announce the appointment of Mr. Craig Hallworth as Chief Financial Officer (“CFO”) effective September 3, 2024.

Mr. Hallworth is currently the Chief Financial Officer, Arizona Business Unit at Hudbay Minerals where he has held various finance leadership roles over the past 13 years. Recently, he led the development and optimization of all financial aspects of the Copper World Project, a re-designed mega-project with over one billion tons of copper resources. Prior to joining Hudbay Mr. Hallworth was a manager with Ernst & Young LLP. Mr. Hallworth is a CPA accountant and CFA Charterholder and he obtained an Honors Bachelor of Commerce from Ryerson University.

Stephen Twyerould, President & Chief Financial Officer of Excelsior commented: “I am very excited that Craig has agreed to join the Excelsior team. He is joining at a critical time for Excelsior as Johnson Camp moves towards commercial production as part of the Nuton stage 2 work program and Excelsior continues to evaluate well stimulation and open pit mining opportunities at the Gunnison Project. Craig’s experience with Copper World will be a huge asset to Excelsior plans.”

Mr. Hallworth will replace Danny Heatherson who had served as the Company’s Interim CFO. The Company thanks Mr. Heatherson for his valuable contributions during the search for a new full-time CFO and welcomes Mr. Heatherson in his continued role as Corporate Controller.

About Excelsior Mining

Excelsior “The Copper Solution Company” is a mineral exploration and production company that owns and operates the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. Excelsior also owns the past producing Johnson Camp Mine, which with Nuton LLC, a Rio Tinto Venture is in Stage 2 of a process to restart the mine using Nuton technologies, with first copper expected to be produced in 2025. Excelsior additionally owns a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44^th Street, Phoenix, AZ, 85018.

Shawn Westcott
T: 604.365.6681
E: info@excelsiormining.com
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the potential of well stimulation to improve performance of the Company’s mineral projects; (ii) the intention to deploy the Nuton® technology at the Johnson Camp mine and future production therefrom; (iii) the details and expected results of the stage two work program; and (iv) future production and production capacity from the Company’s mineral projects.

In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the amended permit will not be appealed, work plans will be approved in a timely manner, the availability of financing to continue as a going concern and implement the Company’s operational plans, the estimation of mineral resources and mineral reserves, the realization of resource and reserve estimates, expectations and anticipated impact of the COVID-19 outbreak, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to the Company not obtaining adequate financing to continue operations, the breach of debt covenants, risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project, risks related to the delay in approval of work plans, variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions and the impact of any resurgence of COVID-19 on the Company’s business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218313

A penny for your thoughts? Not without copper. Copper is an essential metal that serves seemingly endless purposes in the modern world—often unnoticed but indispensable. Batteries. Pipes. Wiring. And, yes, pennies. The metal exists almost everywhere. Its versatility can be found in things as ubiquitous as jewelry and electronics to advanced lifesaving medical equipment, making it a true cornerstone of everyday life. 

Copper is more ubiquitous than ever, making sustainable mining practices pivotal to ensuring continued availability and reducing environmental impacts. Ventures like Nuton are so important to the future of copper mining, utilizing technologies like bioheap leaching that simultaneously help meet the massive demand for copper while minimizing environmental impact.

Top Uses for Copper

Copper finds myriad applications across various industries due to its unique properties. Its conductivity, durability, malleability, and antimicrobial nature make it indispensable to many industries. Here are some key ways copper is used across different sectors:

Reliable Power Transmission in Electrical Applications

Copper provides the foundation for power transmission systems; it is a premier conductor of electricity, second only to silver. Its extensive application in copper wire, transformers, and electrical grids ensures the seamless flow of energy, which is vital for powering our communities.

Moreover, copper’s role extends to the intricate circuitry of printed circuit boards (PCBs) within electronic devices, where its conductivity allows efficient energy transfer and reliable performance. Copper is even essential in components used by electrical engineers, like busbars, electric motors, switch gears, and circuit breakers.

Antimicrobial Control, Power Transmission, and Radio Frequency Shielding in Medical Application

Copper is a crucial element in the medical field, serving multiple purposes. Its antimicrobial properties make it useful for creating surfaces that aid in infection control within healthcare settings; some hospitals are starting to adopt antimicrobial copper touch surfaces to help create sterile environments.

Additionally, copper’s durability and biocompatibility make it an optimal choice for crafting medical instruments and tools. Copper circuitry delivers power to medical electronics, contributing to their functionality and reliability.

Furthermore, in advanced medical technologies like MRI rooms, copper is sometimes utilized in radio frequency shielding that lines the walls and ceilings. Copper even helps power active implantable medical devices, extending the lives of millions.

Thermal Conductivity and Energy Conversion in Industrial Machinery

Copper’s properties lend themselves to crucial applications in industrial machinery and enhance efficiency in various industrial processes. Delocalized electrons within copper’s solid lattice structure have the freedom to move unrestricted, effectively transporting heat. This unique property transforms copper into a highly efficient conductor, facilitating heat flow across its surface. This exceptional thermal conductivity makes it indispensable in regulating temperature in heat exchangers.

Copper plays a pivotal role in electric motors and generators, facilitating efficient energy conversion and powering essential machinery for production and operation. Copper enables countless industrial machines—hydraulic presses, mills, cement mixers, and high-power lasers—to operate more efficiently.

Longevity and Weather-Resistance in Construction Materials

Copper is a versatile construction material with numerous applications. Copper pipes ensure durable and reliable plumbing systems, while copper roofing materials provide weather-resistant solutions that protect structures and enhance architectural aesthetics. Copper does not rust, but it will develop a patina and darken over time when exposed to the elements. Due to its malleability and corrosion resistance, the metal is utilized in architectural elements like railings and gutters. Its applications extend to artistic sculptures and, statue building. We can all name at least one very famous and iconic statue made from copper.

Other Applications: Jewelry, Tools, Musical Instruments, and More

These top uses for copper only scratch the surface. There are seemingly endless applications for copper, ranging from jewelry-making to tool manufacturing. Its aesthetic appeal and durability make it ideal for crafting intricate designs and sturdy equipment like cookware and heat sinks. In musical instruments, copper alloys like brass contribute to creating distinctive tones, enriching musical experiences. Copper is also important for currency production and textile manufacturing.

Sustainable Copper Mining Facilitates a Better Future

As demand for copper increases, it becomes crucial to ensure our access to copper is sustainable. Innovations in mining technologies, such as those pioneered by Nuton, are at the forefront of this endeavor, striving to meet the growing demand for copper while minimizing its ecological footprint.

To discover more about Nuton’s transformative technologies and their impact on the industry, delve deeper into the Nuton process and explore the possibilities for a sustainable future.

Casa Grande, AZ and Toronto, ON, June 10, 2024 – Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) reports drilling results targeting below the leachable oxides and enriched sulphides, into the untested extents of primary copper mineralization around the Cactus West Pit, on the Cactus Project, in Arizona. Drilling confirms a thick zone of primary sulphide mineralization beneath the Cactus West open pit mine plan and at least 750 ft (229 m) south, 500 ft (152 m) southwest and up to an additional 700 ft (213 m) below the Cactus West mineral resource shell (see FIGURES 1-8). The program is part of the 2024 Nuton Work Program sponsored by Nuton LLC, a Rio Tinto venture, as announced January 30, 2024.

A total of 5 drill holes are reported herein for a total of 8,366 ft (2,550 m). The Nuton-sponsored drill program aims to further delineate the primary mineralization beneath the existing oxides and enriched sulphides at the Cactus West open pit, as outlined in the current mine plan. Additionally, the program seeks to extend exploration efforts to the south and southwest regions. The program follows up on geotechnical hole ECW-150 (see PR January 10, 2024), which also encountered a significant primary sulphide interval, extending mineralization by 674 ft (205 m) below the mineral resource shell, within a total interval of 1,416 ft (432 m) @ 0.45% CuT.

Drilling Highlights

• ECW-246*: 1,463 ft (446 m) @ 0.31% CuT of continuous mineralization
  • 1,370 ft (418 m) @ 0.31% CuT, 0.004% Mo (primary)
• ECW-243: 987 ft (301 m) @ 0.34% CuT of continuous mineralization
  • 191 ft (58 m) @ 0.35% CuT, 0.30% Cu TSol, 0.014% Mo (enriched)
  • 796 ft (243 m) @ 0.33% CuT, 0.011% Mo (primary)
• ECW-245: 1,033 ft (315 m) @ 0.28% CuT of continuous mineralization
  • 190 ft (58 m) @ 0.56% CuT, 0.010% Mo (primary)
• ECW-241: 852 ft (260 m) @ 0.38% CuT of continuous mineralization
  • 316 ft (96 m) @ 0.34% CuT, 0.27% Cu TSol, 0.005% Mo (enriched) from 132 m depth
  • 536 ft (163 m) @ 0.39% CuT, 0.019% Mo (primary) 

NOTE: True widths are not known; * Hole terminated in primary mineralization and angled at –47.5° dip, all other holes drilled vertical and terminated in the basement fault

George Ogilvie, Arizona Sonoran President and CEO commented, “While our engineering and geology teams remain focused on the integration of our MainSpring property into our February 2024 Pre-Feasibility Study, our geo teams continue their exemplary low discovery cost programs. To date, the discovery cost on our Cactus porphyry is under $0.01/lb, and therefore telling us to continue drilling until that cost begins to increase.”

He continued, “The Cactus 2024 drilling programs focused on MainSpring infill drilling and expansion drilling at Cactus West. MainSpring presents engineering with the opportunity to improve economics at Parks/Salyer. At Cactus West, the team is targeting below the previously known mineral extents within the primary sulphides for future opportunities and optionality. Cactus infill drilling is returning wide intervals of primary copper mineralization both below the open pit mine plan, and also outside of the current mineral resource shell. While these Cactus West results will not be included in the pending Preliminary Economic Assessment, we see an expanding primary sulphide zone as future optionality on what is already one of the largest development stage Copper assets in the United States today.”

Drilling Recap

The Cactus West infill and exploration drill program as announced in the January 30, 2024 work plan press release and as part of the 2024 Nuton Work Program, supports the expansion of primary sulphide mineralization, particularly near ECW-150 and is ongoing with two drills. The current drilling will not be reflected in the pending Preliminary Economic Assessment. 

Previously, most drilling at Cactus West crossed through the oxide and enriched zones prior to terminating in the upper portions of the primary sulphide mineralization. This developed the oxide and enriched copper resources to support a conventional heap leach project. The current drill program at Cactus West targets the untested extents of primary mineralization by drilling completely through the enriched and primary mineralization zones to the basement fault and stopping in the rock units that compose the basement complex. This drilling is confirming a thick zone of primary mineralization beneath the thinner enrichment zone, typically followed by a barren granitic unit at depth above the basement fault. Though the drill program is in the early stages, it has confirmed that a thick zone of primary mineralization extends beneath the Cactus West pit as well as at least 750 feet south and 500 feet southwest of the pit. Results to date show primary sulphide copper grade increasing from east to west across the southern side of the pit. Grades are interpreted to increase further on the southwest corner of the pit as the drilling aligns with the historical mine trend, consistent with results previously reported from ECW-150. The program will continue to test the extents of primary mineralization to the south and southwest, as it also works to in-fill the areas under and immediately adjacent to the Cactus West pit.

The oxide and enriched proven and probable reserve at Cactus West totals 75.5 Mtons @ 0.26% Cu TSol for 463 Mlbs of copper. Within the Pre-Feasibility Study, Cactus West contributes approximately 12 Mtons annually within the first 7 years of production as an open pit layback. Meanwhile, the Cactus West and East  primary sulphide mineral resource estimate consists of 72.9 Mtons @ 0.34% CuT M&I for 463M lbs of copper and 120.4 Mtons @ 0.34% CuT for 837 Mlbs of copper inferred, inclusive of Cactus East (see PR dated February 21, 2024for notes and disclaimers related to the reserves and resources). The Cactus Project overall, inclusive of Parks/Salyer, contains 446 Mtons @ 0.58% CuT for 5.2 Blbs measured and indicated and 224 Mtons @ 0.472% CuT for 2.2 Blbs inferred.

Table 2: Drilling Details

Note: Drill locations are based on drill plans and hand-held GPS locators and may be adjusted slightly when properly surveyed.

Quality Assurance / Quality Control 

Drilling completed on the project between 2020 and 2023 was supervised by on-site ASCU personnel who prepared core samples for assay and implemented a full QA/QC program using blanks, standards, and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and shipped to Skyline Laboratories in Tucson AZ for analysis. Skyline’s sample prep, analytical methodologies, and quality control system complies with global certifications for Quality ISO9001:2008. 

Technical aspects of this news release have been reviewed and verified by Allan Schappert – CPG #11758, who is a qualified person as defined by National Instrument 43-101– Standards of Disclosure for Mineral Projects.

Links from the Press Release

Figures 1-8: https://arizonasonoran.com/projects/cactus-mine-project/press-release-images/ 
February 21, 2024: https://arizonasonoran.com/news-releases/arizona-sonoran-announces-a-positive-pre-feasibility-study-for-the-cactus-mine-project-with-a-us-509m-post-tax-npv-and-55-kstpa/ 
January 30, 2024: https://arizonasonoran.com/news-releases/arizona-sonoran-announces-2024-work-plan/ 
January 10, 2024: https://arizonasonoran.com/news-releases/arizona-sonoran-extends-mineralization-674-ft-205-m-below-cactus-west-mineral-resource-shell-drills-731-ft-223-m-of-0.92-cut-of/

Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.

About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)

ASCU’s objective is to become a mid-tier copper producer with low operating costs and to develop the Cactus and Parks/Salyer Projects that could generate robust returns for investors and provide a long term sustainable and responsible operation for the community and all stakeholders. The Company’s principal asset is a 100% interest in the Cactus Project (former ASARCO, Sacaton mine) which is situated on private land in an infrastructure-rich area of Arizona. Contiguous to the Cactus Project is the Company’s 100%-owned Parks/Salyer deposit that could allow for a phased expansion of the Cactus Mine once it becomes a producing asset. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.

For more information

Alison Dwoskin, Director, Investor Relations 
647-233-4348
adwoskin@arizonasonoran.com

George Ogilvie, President, CEO and Director 
416-723-0458
gogilvie@arizonasonoran.com

Forward-Looking Statements

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals. 

Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and ASCU disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. 

“News stories of hurricanes and wildfires, droughts and floods are everywhere. It’s easy to feel paralyzed or give up.” Despite the headlines, Cecilia Perla is optimistic. “We need to pay attention to the problem, but also direct our efforts into action rather than despair.”

She’s spent over a decade reshaping copper analysis and decarbonization, and contributing her expertise to governments, universities and NGOs worldwide. And as the United Nations recognizes World Environment Day this June, there’s no better time than now to be enthusiastic about the future of ecosystem restoration.

U.N. Sustainable Development Goals (SDG) Applied to Copper Mining

Perla, the Sustainability VP for Nuton Technologies, sees good things ahead. “We need to double down on humanity’s capacity to change, our creativity and what Hannah Ritchie calls ‘pragmatic optimism’,” she says referring to sustainability data scientist, researcher and author of the 2024 book, Not the End of the World: How Can We Be the First Generation to Build a Sustainable Planet. Recognized by Bill Gates as “eye-opening and essential,” Ritchie’s book points to progress made in lowering carbon emissions, deforestation and air quality. “She’s a glass-half-full type of person, just like me.”

Though for Nuton this is a year-round effort, the U.N.’s World Environment Day in June provides an opportunity to showcase how the mining industry — historically associated with environmental degradation — can become a key innovator for ecosystem restoration.

Nuton’s heap leaching technology, in particular, is a source of great hope in the efforts to find new ways to produce copper with a lower environmental footprint. Nuton embraces a ground-up-to-global mindset for copper extraction driven by a company ethos of sustainability and alignment with the United Nations’ sustainable development goals.

 “We must have a vision of what the post-mining land use for the site is and how we get there,” says Perla referring to Nuton’s ambition to accelerate opportunities for land restoration, one of the five pillars of Positive Impact Strategy. “In the big scheme of things, mining is a temporary land use. We should keep an open mind about what it can become once mining concludes.”

Along with land, Nuton’s Positive Impact Strategy encompasses four additional pillars—water, energy, materials, and society. “This year, we are seeing Nuton germinate, having announced the first industrial-scale deployment of our technology at the Johnson Camp Mine, owned and operated by our partner Excelsior Mining,” Perla says. “We will have more exciting news to share as we mature as a venture and show our partners and the market the full value of Nuton technologies.”

The Future of Sustainable Copper Mining Is Gaining Traction

Nuton is right in line with #GenerationRestoration, this year’s motto for World Environment Day. According to Perla, “Nuton is built on this spirit. Here’s a new technology unlocking opportunities to meet copper demand with a much lighter footprint and less stress on our planet than conventional copper processing technologies.”

As for the future of sustainable copper mining? It´s on its way. Here’s how Nuton’s heap leaching technology already alleviates environmental impact and increases profits.

Lighter Environmental Impact to Meet Copper Demand

It’s simple, according to Perla. “Nuton exists because we need to produce more copper, but we need to do it more sustainably. We focus not only in the what, but also on the how copper is produced.”

“The vast majority of copper comes from primary sulfides, which traditionally go through a process of concentration, smelting and refining,” she says. “Nuton technologies provide an alternative to leaching copper sulfide ores with the help of our carefully cultivated bacteria and unique catalysts and reagents.”

Stronger Economic Impact for Sustainable Copper Mining

Nuton’s ambition to produce copper with a lower carbon footprint, while conserving water, energy, and costs, aligns with the goals of World Environment Day.

World Environment Day 2024 is just one day this summer. But thanks to Perla and the Nuton team, ecosystem restoration and conservation is an everyday ambition.

Excelsior Mining Corp. (TSX: MIN) (OTCQB: EXMGF) (FSE: 3XS) (“Excelsior” or the “Company”) is pleased to announce that it has received the US$5 million infrastructure access payment from Nuton LLC (“Nuton”), a Rio Tinto venture. This payment was provided as a result of Nuton electing to proceed to Stage 2 of the existing Option Agreement (the “Agreement”) (see Excelsior press release dated May 15, 2024). The purpose of the Agreement is for Nuton to evaluate the use of its Nuton™ copper heap leaching technologies at Excelsior’s Johnson Camp mine in Cochise County, Arizona. Under the Agreement, Excelsior remains the operator and Nuton funds Excelsior’s costs associated with a two-stage work program at Johnson Camp.

As Nuton has elected to proceed to Stage 2, it made the US$5 million payment to Excelsior for the use of existing infrastructure at the Johnson Camp mine for the Stage 2 work program. Nuton will also be responsible for funding all of Excelsior’s costs associated with Stage 2. The full Stage 2 work program is anticipated to take up to five years, and, if successful, will demonstrate key elements of the Nuton technologies at industrial scale. It will proceed based on milestones related to engineering and mobilization, infrastructure and construction, mining, leaching, copper production and post-leach rinsing. Mining is expected to commence in year one with first copper produced from technology in 2025.

The completion of all milestones would result in full scale commercial production of Nuton copper over several years at Johnson Camp. Revenue from operations will first be used to pay back Stage 2 costs to Nuton and will then be credited to Excelsior’s account after fulfillment of Excelsior’s applicable royalty and stream obligations.

Rio Tinto has developed the Nuton^TM technologies, an extensive portfolio of advanced copper heap leaching technologies targeted at primary sulfide minerals (including lower grade mineral deposits), which could not otherwise be processed economically using traditional leaching or sulfide processing technologies. These technologies offer the potential to produce additional copper from new and ongoing operations in a cost-effective manner that has significant environmental benefits when compared with traditional primary sulfide processing technologies.

Webinar

Stephen Twyerould President & CEO, and Robert Winton SVP & General Manager, will be presenting a live-video webinar with Q&A on 29, May 2024 at 4:00pm (EDT) to go over the recently announced Nuton Stage 2 Option Agreement. The event will be hosted by Amvest Capital. Those wishing to participate in the video-webinar can do so by Registering Here.

About Nuton

Nuton is an innovative venture that aims to help grow Rio Tinto’s copper business. At the core of Nuton is a portfolio of proprietary copper leaching related technologies and capability – a product of almost 30 years of research and development. Nuton offers the potential to economically unlock copper from primary sulfide resources through leaching, achieving market-leading recovery rates and contributing to an increase in copper production at new and ongoing operations. One of the key differentiators of Nuton is the ambition to produce the world’s lowest footprint copper while having at least one Positive Impact at each of our deployment sites, across our five pillars: water, energy, land, materials and society.

About Excelsior Mining

Excelsior “The Copper Solution Company” is a mineral exploration and production company that owns and operates the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. Excelsior also owns the past producing Johnson Camp Mine and a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44^th Street, Phoenix, AZ, 85018.
Shawn Westcott
T: 604.365.6681
E: info@excelsiormining.com 
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the potential of well stimulation to improve performance of the Company’s mineral projects; (ii) the intention to deploy the Nuton® technology at the Johnson Camp mine and future production therefrom; (iii) the details and expected results of the stage two work program; and (iv) future production and production capacity from the Company’s mineral projects.

In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the amended permit will not be appealed, work plans will be approved in a timely manner, the availability of financing to continue as a going concern and implement the Company’s operational plans, the estimation of mineral resources and mineral reserves, the realization of resource and reserve estimates, expectations and anticipated impact of the COVID-19 outbreak, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to the Company not obtaining adequate financing to continue operations, the breach of debt convenants, risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project, risks related to the delay in approval of work plans, variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions and the impact of  any resurgence of COVID-19 on the Company’s business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

Thirty minutes north of Melbourne, the second largest city in the Land Down Under, sits the Bundoora Technical Development Centre, the center of innovation for Nuton’s groundbreaking technology.

Surrounded by a lush gathering of trees and close enough to the Australian coast to feel a slight ocean breeze, the Technical Development Centre, known simply as Bundoora by Nuton and Rio Tinto teammates, is located in a beautiful spot.

“People drive through the gate in the morning, and they can’t help but be relaxed and inspired,” says Jared Osborne, General Manager of Technical Development at Rio Tinto. “Kangaroos are hopping around, the occasional big rabbit, some foxes. It’s really quite something.”

Jared says he feels even more energized when he sees the world of immense growth and possibility happening inside Bundoora.

Teams of dedicated scientists, like Jared, have already come so far and achieved so much in nearly 30 years of research and innovation at Bundoora. Back in the early 1990s, Rio Tinto executives at our Kennecott operations in Utah were looking for a solution that could minimize the amount of wasted ore bodies that were unsuitable for traditional processing. The waste was burdensome, economically unviable, and importantly—with notable implications on the environment.

In 1996, a small group of scientists working at Bundoora took a huge leap forward, finding a copper leaching technology that could extract premium quality copper with less water usage and a much smaller carbon footprint. That solution is at the heart of our new Rio Tinto venture, Nuton.

Over the years, technology and innovation milestones have stacked up at Bundoora. From those first tests in 1996 to small and large column tests in 2006 to a pilot plant in 2012, Bundoora teammates have seen the Nuton technology evolve and ramp up significantly.

Next is to deploy this technology on a large scale, where it can truly create a positive impact on the world. It’ll be an exciting challenge, made possible by the team at Bundoora comprised of some of the brightest minds in the field.

With a diverse team of experts from all over the world, celebrating each other’s culture and championing inclusion are major aspects of the magic at Bundoora. It’s common for teammates to bring in traditional food from their homeland to share with everyone at lunch and for all to truly get to know each other on a personal level.

Those kinds of things are organic and frequent at Bundoora.

“We’ve recruited the best in the world for over 30 years and we’ve ended up with a magnificent mix of people,” says Jared. “It really does feel like a family.”